"It's the latest in a series of moves as CalPERS restructures its real estate holdings in the aftermath of the housing market crash.
The pension fund said it's selling its share in 28 separate housing developments in 11 states to the U.S. subsidiary of Japanese homebuilder Sekisui Ltd. The developments include some 16,000 single- and multi-family lots, plus 5,700 acres of land for commercial or retail use."
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